When you sell high ticket items, and vehicles are high ticket items.
You tend to keep an eye out on the economic developements, both local and global. We live at a time when "someone flushes a toilet on the other side of the planet, it might affect us on this side".
Over a Saturday morning coffee, listening to the birds chirp...did you know...the chirping is different at mid summer than spring. Taking photos of the Moon and Sun.
The conversation was....
"You know Canadian banks through the Canadian consumer have been propping up the Canadian economy for the past 24 months."
"Have you noticed for a few months now, the message is crystal clear that the average Canadian consumer is at the ceiling of available consumer credit."
"Credit cards, and all that stuff."
"This past week Canadian banks made a concerted effort to signal an expected/anticipated lowering of real estate values in Canada."
"Is it a coincidence that everyone has an opinion at the same time."
"Perhaps...the message is clear...from all banks."
"Do you get the feeling that banks are saying that they will no longer bankroll the consumer to keep the economy going...someone else needs to step in."
"Subtle but clear message that banks will not assume more consumer credit risk to keep the Canadian economy going."
"Could there be clouds and perhaps even trouble brewing on the horizon?"....here.
"Are we so naive or so much in denial that we cannot see what is lurking on the immediate horizon".
"You mean the light...is a freight train...."
"It will be interesting to see how this freight train rolls by after the dog days of summer...."